Sendero Wealth Management LLC Trims Position in Boston Scientific Co. (NYSE:BSX)

Sendero Wealth Management LLC cut its position in Boston Scientific Co. (NYSE:BSX) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,767 shares of the medical equipment provider’s stock after selling 506 shares during the period. Sendero Wealth Management LLC’s holdings in Boston Scientific were worth $2,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Boston Scientific during the first quarter valued at $31,000. Bruce G. Allen Investments LLC purchased a new position in Boston Scientific during the fourth quarter valued at $28,000. Frazier Financial Advisors LLC purchased a new position in Boston Scientific during the fourth quarter valued at $32,000. Sachetta LLC purchased a new position in Boston Scientific during the fourth quarter valued at $32,000. Finally, Jones Financial Companies Lllp grew its stake in Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 193 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BSX shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. The Goldman Sachs Group started coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Argus increased their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Evercore ISI increased their price objective on shares of Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.70.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders have sold a total of 81,627 shares of company stock valued at $5,937,353 in the last 90 days. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.0 %

NYSE BSX traded up $0.01 during trading on Friday, reaching $77.01. 7,614,730 shares of the company’s stock traded hands, compared to its average volume of 6,314,933. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The firm has a market cap of $112.98 billion, a price-to-earnings ratio of 64.71, a price-to-earnings-growth ratio of 2.65 and a beta of 0.81. The company’s 50 day simple moving average is $74.84 and its two-hundred day simple moving average is $67.51. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $77.99.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.